Adjustments To The Economy
Upcoming SlideShare
Loading in...5
×

Like this? Share it with your network

Share

Adjustments To The Economy

  • 375 views
Uploaded on

This presentation was given to Senior Managers and Business Development Managers. The main focus was to provide some insight on ways to sell in a tough economy.

This presentation was given to Senior Managers and Business Development Managers. The main focus was to provide some insight on ways to sell in a tough economy.

More in: Business , Technology
  • Full Name Full Name Comment goes here.
    Are you sure you want to
    Your message goes here
    Be the first to comment
    Be the first to like this
No Downloads

Views

Total Views
375
On Slideshare
374
From Embeds
1
Number of Embeds
1

Actions

Shares
Downloads
7
Comments
0
Likes
0

Embeds 1

http://www.slideshare.net 1

Report content

Flagged as inappropriate Flag as inappropriate
Flag as inappropriate

Select your reason for flagging this presentation as inappropriate.

Cancel
    No notes for slide

Transcript

  • 1. Copyright © Open Text Corporation 2008 - 2009. All rights reserved.
    Slide 1
    Selling in a Tough Economy
    Mike Stankowitsch
    North American Sales Manager
    February 2, 2010
  • 2. If you have sold for 12 years you have not sold in tough economic times – the US has enjoyed good economic times from 1995 to 2007
    Some sales statistics:
    In a down economy
    • One out of four sales people will leave sales for another career
    • 3. Approximately 60% of sales people will have less than stellar results
    • 4. About 15% will over achieve
    Copyright © Open Text Corporation 2008 - 2009. All rights reserved.
    Slide 2
    Sales Statistics
  • 5. Copyright © Open Text Corporation 2008 - 2009. All rights reserved.
    Slide 3
    Control what you can control and don’t worry about the things you can’t.
    We can’t control the fact that……
    we will be involved in more aggressive sales cycles
    deal with more hostile purchasing agents
    Your competitors will be coming after your accounts with a vengeance
    Need for a proper attitude
  • 6. Copyright © Open Text Corporation 2008 - 2009. All rights reserved.
    Slide 4
    Successful sales people will have built the “Trusted Advisor” relationship with their customer. They will trust you and your company.
    Customers will be more likely to buy if they feel that you won’t let them fail
    All solutions will need to save your customer money first; Second is to help them increase revenues.
    Trusted advisor
  • 7. Buying cycles – What are we seeing?
    Customers will take longer to purchase and make a decision to buy
    Adjust your sales cycles accordingly and adjust your sales strategy
    Customers will need help in order to help justify their purchase
    In tough times customers are looking for payback in a shorter time frame
    Purchases need to be budgeted and reaffirmed several times
    You may be asked for longer payment terms – customer may ask to go from Net 30 to Net 90
    Is financing an option? This should be a consideration for larger purchases in order to stretch out the customers purchase
    Be prepared for them to ask for more from you for less
    Copyright © Open Text Corporation 2008 - 2009. All rights reserved.
    Slide 5
  • 8. How to win
    Do your homework: Research your customer
    What is their market share?
    Who are their competitors?
    Know their organizational chart
    Financial statements if they are public
    Press releases
    Copyright © Open Text Corporation 2008 - 2009. All rights reserved.
    Slide 6
  • 9. Copyright © Open Text Corporation 2008 - 2009. All rights reserved.
    Slide 7
    How to compete
    In tough times your competitors will fail their customers in some way – exploit their vulnerabilities.
    Determine what competitors are failing and go after their customers aggressively
    Increase your sales activities by 25%
    More opportunities are needed to offset the longer sales cycles
    Sales is no longer 9 – 5
    Develop aggressive and creative proposals; Sometimes there will be a need to create a compelling event.
    If you are giving them a pricing concession don’t be afraid to ask for something in return i.e. Case study, customer reference etc.
  • 10. Copyright © Open Text Corporation 2008 - 2009. All rights reserved.
    Slide 8
    How to compete cont’d.
    Contact your current customers on a regular basis, even if they're not buying but be respectful of their time.
    Focus on the top 20% of your customers that give you 80% of your revenues – Never lose a top customer
    Ask your customer why they decided to buy – feature, functionality etc.
    Ask to be introduced to other areas within their company
    If you have multiple products can you up sell them to other offerings – Do you know what they already own (Heat Map)
    Customers that have let their support and maintenance lapse could be an upgrade opportunity
    If you have had a recent acquisition view their customers as a new target opportunity
  • 11. Copyright © Open Text Corporation 2008 - 2009. All rights reserved.
    Slide 9
    Tools to help you
    Hoovers – generate targeted lists; target your customers competitors
    Trade publications - Good place to find cold call prospects
    RSS feeds for press releases
    Twitter – follow experts in your space
    TweetDeck – Can be used for prospecting
    CRM – your customer database can help you navigate within an organization.
  • 12. Copyright © Open Text Corporation 2008 - 2009. All rights reserved.
    Slide 10
    Questions?